Nexting secures €2 million investment led by CDP Venture Capital
Deal News | Nov 12, 2024 | CDP Venture Capital
CDP Venture Capital has invested €2.06 million in Nexting, a rising player in the sports broadcasting and OTT platform market. Founded in late 2017 and led by CEO Antonio Palmieri, Nexting is innovating the sports content domain through advanced technologies, including AI and remote production. The company, headquartered in Naples with offices in Milan, Rome, London, and Madrid, has expanded its influence since CDP Venture Capital's initial involvement in 2020, which included a €200,000 convertible loan. The recent capital raise includes participation from other investors such as Apside and RDS. This financial backing will support Nexting's mission to revolutionize sports broadcasting by enhancing their service to broadcasters like Sky Italia, Mediaset, and DAZN, and through their acquisition and enhancement of Sportface, an OTT platform providing sports content. Legal advice was provided by Francesco Pezcoller, and Volano offered technical support, while CDP Venture Capital’s internal team led the investment process.
Sectors
- Media & Entertainment
- Technology
- Venture Capital & Private Equity
Geography
- Italy – Nexting is headquartered in Naples with operations in multiple Italian cities, and CDP Venture Capital is based in Italy.
- Europe – Nexting has offices across Europe, including in London, Madrid, and Rome, indicating its geographical scope.
Industry
- Media & Entertainment – Nexting operates within the media and entertainment sector, focusing on sports broadcasting and OTT platforms.
- Technology – The integration of AI and technological innovations in Nexting's broadcasting services places it within the technology industry.
- Venture Capital & Private Equity – CDP Venture Capital's investment in Nexting highlights involvement in the venture capital and private equity sector.
Financials
- €2,060,000 – The amount raised in the recent funding round for Nexting.
- €200,000 – Previous convertible loan provided by CDP Venture Capital to Nexting in 2020.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| CDP Venture Capital | Investor | Company | A venture capital firm that led the funding round for Nexting. |
| Nexting | Target Company | Company | A company innovating in sports broadcasting and OTT platforms, receiving investment. |
| Apside | Investor | Company | A joint venture participant contributing to the funding round. |
| RDS | Investor | Company | One of the investors in the funding round for Nexting. |
| Volano | Technical Advisor | Company | Provided technical assistance for the investment operation. |
| Francesco Pezcoller | Legal Advisor | Person | Legal advisor involved in the operation. |
| Antonio Palmieri | CEO of Nexting | Person | CEO leading Nexting with a focus on innovation in sports broadcasting. |
| Alessandro Picardi | President of Nexting | Person | President with a strategic and industrial development role in Nexting. |